Like many many others out there, my wife and I are both pensioners living on fixed income. All of our income is legal and highly visible to the authorities, and yet every year both of us have trouble from HMRC, who claim we are under paying income tax.

Both of us also have savings accounts in our individual names. When Osborne changed the rules regarding income tax on savings, where he stopped the deduction of tax at source, and created the £1000 tax free allowance against savings, HMRC changed our tax codes and increased the tax take from our pensions; meaning we pay income tax IN ADVANCE on interest from savings.

I contacted HMRC on five occasions explaining that I wanted the tax on our savings to be paid in arrears, as it is for those on Self Assessment. On four occasion when I contacted HMRC I was told that I could NOT have interest on savings transferred to Self Assessment with tax paid in arrears. On the fifth time I contacted HMRC a man told me that yes, I could have savings interest paid in arrears as Self Assessment. He agreed to make all the necessary changes there and then whilst we were both on the phone. However, nothing changed; well it did change, our tax codes were changed again so that we paid more tax in advance from our pensions.

I wrote a letter to my MP, including in the letter all the notices of tax code changes from HMRC. I soon received a letter from my MP indicating that a copy of my letter had been forwarded to HM Treasury. Within a couple of days of receiving that reply from my MP a 'manager' from HMRC 'phoned me saying that she had investigated my tax affairs and confirmed that I can continue having my pensions taxed as P.A.Y.E., and have the tax on my savings taxed in arrears as Self Assessment. She confirmed all the details in letters to both my wife and myself. Our tax codes were immediately changed to 'normal' and we both received notification of the tax bill on our savings, with the bills payable in January of the year after we gained the interest on savings. In effect, the tax due fior the year April 2016 to April 2017 is now due to be paid by January 2018.

This all may sound very unnecessary and confusing, but with tax being taken on unpaid interest from savings, and our tax codes against our pension constantly changing, neither of us could predict what income we would receive from our pension in any month.

But the point is, the well-to-do, such as the Queen, and the 'elite', the people who don't have to know what their next pay cheque will be, don't receive the same bulling from HMRC.

On a related point, we are told that the official rate of inflation is 3%. Current interest rates on savings are very much lower than 3%, and many as low as 0.1%, but HMRC continue to tax interest on savings at 20%, or higher. This is outrageous, and amounts to official theft from savings.

I'm pleased that somebody else sees the truth of this deliberate fraud practiced by Government against savers. Practiced primarily against the elderly, who largely depend on their savings to provide an income for themselves.

I may have missed it, but I've seen nothing in the media that fully exposes this appalling "taxation of a LOSS on savings". I know that savers and media articles have complained about interest rates on savings, but I've seen nothing that deals with this direct fraud by the Government and HMRC. There was a lot of crowing from Osborne, the Government as a whole, and the media when Osborne announced that the first £1000 pounds of interest was to be free of Income Tax (a tax break of £200 per year for those on the 20% Income Tax rate). But I've seen nothing about the 20%, or even 40% tax on all other savings that attract interest on money that is being steadily eroded by the engineered rate of currency devaluation, called “inflation”, through the printing of money by that misnamed Bank of England.

I've tried making officialdom aware of this indefensible Government fraud against savers, and officialdom simply ignores it. I'm told; “That's the rules”, as if the rules justify the theft; small wonder the police can't be bothered to investigate burglary any more.

This “tax on a LOSS” on savings really amounts to negative interest in the region of !0% per annum; a positive charge for leaving money in a bank or building society account. Although the official inflation figure is currently stated to be 3%; every 'essential for life' purchase is constantly rising at a rate that is probably in double digits. Even my Council Tax in April this year rose by 4%, and that was at the time when we being told that inflation was running at about 1.9%. Dread to think what the Council Tax will increase by next April – pay ever more and receive ever less for it - more Government inspired fraud.

The "tax on a savings LOSS", which is effectively an engineered theft by Government and the banks, is only one more reason why Government and officialdom have proven themselves to be dishonest and untrustworthy as far as I'm concerned. Whatever happened to: “Thou shalt not steal” (defraud), or, “Thou shalt not bear false witness” (deceive)?

I wonder if HMRC will be following up on the revelations from the Paradise papers? Do they have a special squad that investigates major off-shore tax avoidance, I'd like to think they do but somehow I think not.

Agreed Jon! The mega-rich are represented by the psychopathic international bankers, such as the Rothschilds. The political class and the corporatists take their orders from the bankers, and are rewarded for their obedience.

I recommend the book, Technocracy Rising: The Trojan horse of Global Transformation. By Patrick Wood.

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